Global ratings agency, Moody’s, reports that Kenyan banks have the unflattering honor of having the highest rate of bad loans in Africa.
The agency says Kenyan banks’ Non-Performing Loan (NPL) ratios are among the most elevated among major economies in Africa. The study also says these bad loans may even get worse because of continued government delays in paying contractors and suppliers who owe lenders billions of shillings.
Moody’s says in a new report on African banks that weak risk-management practices in the past have also contributed to the problem among African banks, with many of those assessed lying above 10 percent.
Of 11 African countries profiled by Moody’s in the report, only Angola, Ghana and Democratic Republic of Congo have a higher ratio than Kenya, at about 25, 22 and 18 percent respectively.
Kenya Committed To Improving Aviation Infrastructure
Kenya’s President Uhuru Kenyatta says the government is committed to improving the country’s civil aviation infrastructure. He credited the industry with enhancing the country’s economy and national development.
He said at the eleventh forum of the international civil aviation organization air services negotiation meeting in Nairobi that the aviation industry contributes four tenths of a percent to the country’s gdp. He also said the Jomo Kenyatta International Airport in Nairobi provides seventeen thousand direct and more than half a million indirect jobs.
Kenyatta said about eight in ten tourists visiting Kenya use air transport.
He said these are some of the reasons his government is committed to investing in aviation infrastructure to help the industry play its critical role in the economy.
2 Persons Killed In Clash Between Security Forces And Protesters In Togo
At least two persons were reported killed in Togo over the weekend after security forces moved against protesters. Opposition has accused the government of using what it called “regime soldiers” it says opened fire on the demonstrators.
At least two persons were killed in clashes between Togo’s security forces and protesters.
Authorities reported finding a dead protester in Lome with an open wound in his left eye that indicated a bullet entry. Another dead body was also reported, this time with no bullet wounds.
The protests intensified after the government called for parliamentary elections to be held in late December. Opposition is against the polls. It has demanded reforms of the national electoral commission, and a two-term limit for presidents.
Cameroon Law Graduates-Turn-Musicians Sing For Peace
Two Cameroonian Law graduates, who are now musicians, have been traveling through the country’s English-speaking regions singing messages of peace they believe will touch the rebels and help end the separatist conflict there.
The singers started their group in October when they both lost family members and friend in the secessionist struggle in the English-speaking regions.
The duo sing in both English and French reminding people about the grave repercussions of war, and urging all sides to embrace peace.
The conflict has claimed hundreds of civilian lives. Thousands have been internally displaced, and thousands more have fled, many to neighboring Nigeria.
- Kenya Committed To Improving Aviation Infrastructure December 10, 2018
- 2 Persons Killed In Clash Between Security Forces And Protesters In Togo December 10, 2018
- Cameroon Law Graduates-Turn-Musicians Sing For Peace December 10, 2018
- South Africa Suspends Diplomatic Ties With Rwanda December 10, 2018
- President Ali Bongo Had A Stroke – Reports December 10, 2018
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